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REGISTERED NUMBER: SC309003















FATBUZZ LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 SEPTEMBER 2023






FATBUZZ LIMITED (REGISTERED NUMBER: SC309003)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


FATBUZZ LIMITED (REGISTERED NUMBER: SC309003)

BALANCE SHEET
29 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,904 21,318

CURRENT ASSETS
Debtors 5 262,788 302,222
Cash at bank and in hand 95 208
262,883 302,430
CREDITORS
Amounts falling due within one year 6 252,391 291,965
NET CURRENT ASSETS 10,492 10,465
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,396

31,783

CREDITORS
Amounts falling due after more than one
year

7

(17,375

)

(27,449

)

PROVISIONS FOR LIABILITIES (4,922 ) (4,051 )
NET ASSETS 14,099 283

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 14,097 281
14,099 283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FATBUZZ LIMITED (REGISTERED NUMBER: SC309003)

BALANCE SHEET - continued
29 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:





M M White - Director


FATBUZZ LIMITED (REGISTERED NUMBER: SC309003)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023

1. STATUTORY INFORMATION

Fatbuzz Limited is a private company, limited by shares, registered in Scotland. The address of the registered office is Caledonia House, 89 Seaward Street, Glasgow, Scotland, G41 1HJ.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from the standard. The financial statements have been prepared under the historical cost convention.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Turnover
Turnover represents the invoice value of services rendered in the year, exclusive of value added tax. The company's policy is to recognise income when substantively all risks and rewards in connection with the services have been passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of the value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

FATBUZZ LIMITED (REGISTERED NUMBER: SC309003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it to be more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates which would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Leasing commitments
Rentals payable under operating leases are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

FATBUZZ LIMITED (REGISTERED NUMBER: SC309003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 September 2022 74,078
Additions 9,339
At 29 September 2023 83,417
DEPRECIATION
At 30 September 2022 52,760
Charge for year 4,753
At 29 September 2023 57,513
NET BOOK VALUE
At 29 September 2023 25,904
At 29 September 2022 21,318

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 92,637 98,520
Other debtors 170,151 203,702
262,788 302,222

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 51,966 57,331
Trade creditors 15,040 38,334
Taxation and social security 176,851 182,990
Other creditors 8,534 13,310
252,391 291,965

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,375 27,449

FATBUZZ LIMITED (REGISTERED NUMBER: SC309003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 SEPTEMBER 2023

8. LEASING AGREEMENTS
At the balance sheet date the company had payments under non-cancellable operating leases due of £31,250 (2022 - £33,333).

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 41,892 -

The bank overdraft is secured over the assets by a floating charge which covers all the property and undertakings of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 29 September 2023 and the period ended 29 September 2022:

2023 2022
£    £   
R G B White and M M White
Balance outstanding at start of year 153,415 119,195
Amounts advanced 135,453 46,770
Amounts repaid (169,004 ) (12,550 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 119,864 153,415

This loan has no repayment terms and interest has been charged at a rate of 2%.